Group 1 - The current geopolitical tensions in the Middle East are escalating, with Israel's airstrikes on Iranian state television and threats from Iran to launch significant missile attacks, raising concerns about potential conflicts [3] - The market is experiencing increased risk aversion, highlighted by President Trump's early departure from the G7 summit and the convening of a national security meeting [3] - There has been a significant increase in ETF holdings, with a reported addition of 136,000 ounces of gold in the last trading day, bringing the year-to-date net purchases to 6 million ounces, indicating strong investor confidence in gold [3] Group 2 - The Federal Reserve is expected to maintain interest rates this week, with market focus on Chairman Powell's speech and changes in the dot plot, as expectations for further rate cuts in 2025 rise, putting pressure on the dollar [3] - Gold prices are currently experiencing a range-bound trading pattern, having failed to maintain the $3,400 level, indicating a lack of strong directional movement [4] - The technical analysis suggests that gold is facing support at various moving averages and trend lines, with potential buying opportunities if prices stabilize above key support levels [4]

Core Viewpoint - The market is currently overshadowed by tariff concerns, leading to fluctuations in gold prices, specifically a drop below 3345, while strong demand for low-priced purchases is noted. The continuation of the bullish trend remains uncertain [1] Group 1 - Tariff issues are impacting market stability, creating a negative sentiment among investors [1] - Gold prices have experienced a significant decline, falling below the 3345 mark, indicating volatility in the precious metals market [1] - There is a strong demand for low-priced gold, suggesting that investors are looking for buying opportunities despite the current market conditions [1] Group 2 - The potential for a continuation of the bullish trend in gold prices is being questioned, reflecting uncertainty in market outlook [1]

Group 1 - The Federal Reserve is expected to maintain interest rates, indicating a cautious approach amid trade tensions [1][2] - Market participants are eager to understand the future direction of interest rates following the Fed's upcoming meeting [1][2] - There is a notable divergence between "hard data" and "soft data," suggesting that Powell may adopt a wait-and-see stance [2]